The following information is shown on Morris Company's balance sheet. Answer the questions that follow.
$\begin{array}{lr}
\text { Cash } & \$ 12,000 \
\text { Inventory } & 15,000 \
\text { Equipment } & 80,000 \
\text { Accounts Payable } & 15,000 \
\text { Bonds Payable } & 45,000 \
\text { Contributed capital } & 30,000
\end{array}$
A. How much did debt investors provide to Morris Company?
B. What is the amount of money provided by equity investors to Morris Company?
C. How much would be classified as property, plant, and equipment?

Question

The following information is shown on Morris Company's balance sheet. Answer the questions that follow.
 $\begin{array}{lr}
\text { Cash } & \$ 12,000 \
\text { Inventory } & 15,000 \
\text { Equipment } & 80,000 \
\text { Accounts Payable } & 15,000 \
\text { Bonds Payable } & 45,000 \
\text { Contributed capital } & 30,000
\end{array}$ 
A. How much did debt investors provide to Morris Company?
B. What is the amount of money provided by equity investors to Morris Company?
C. How much would be classified as property, plant, and equipment?

Quizplus · Accepted Answer

The Answer of The following information is shown on Morris Company's balance sheet. Answer the questions that follow.
 $\begin{array}{lr}
\text { Cash } & \$ 12,000 \
\text { Inventory } & 15,000 \
\text { Equipment } & 80,000 \
\text { Accounts Payable } & 15,000 \
\text { Bonds Payable } & 45,000 \
\text { Contributed capital } & 30,000
\end{array}$ 
A. How much did debt investors provide to Morris Company?
B. What is the amount of money provided by equity investors to Morris Company?
C. How much would be classified as property, plant, and equipment?

The Following Information Is Shown on Morris Company's Balance Sheet